Launch Advances Company’s Strategy to Rapidly Expand Its Consumables
Business
MADISON, Wis.--(BUSINESS WIRE)--Sep. 26, 2012--
Spectrum Brands Holdings, Inc. (NYSE: SPB), a diversified and global
consumer products company with market-leading brands, announced today
that its Remington® personal care division has entered the U.S. women’s
hair accessories market with a full line of basic-to-trend hair
accessories, accessory storage items and brushes for both the adult and
teenage girl segments.
Remington's full line of basic-to-trend women's hair accessories includes hair elastics that can also be worn as jewelry. (Photo: Business Wire)
Remington® already has secured sizeable placements at several major
retailers in the U.S. women’s hair accessory category, a consumables
market estimated at more than $1 billion annually. Remington® also is
leveraging its strong global footprint in hair care, shaving and
grooming to enter growing women’s hair accessories markets in Europe and
Latin America.
“Our successful launch in the women’s hair accessory market is among a
number of global categories Remington® is entering to advance our
strategy of rapid organic growth in higher margin and faster growing
consumables markets over the next several years,” said Dave Lumley,
Chief Executive Officer of Spectrum Brands Holdings. “We are investing
in resources to capitalize on this significant growth platform,
leveraging our Spectrum Value Model approach of ‘same performance/less
price’ to gain distribution in both stores and online, and working hard
to help our retail partners grow their category shares.”
Extending the Remington® brand to the consumable hair accessory category
further enhances Remington’s position as one-stop shopping for hair
styling for all ages. According to Drew Fiorenza, Remington® Global Vice
President, “Our hair accessory product development has a strong emphasis
on executing fashion and trend and always with a focus on winning the
value position. With our brand positioning of ‘How the World Gets
Ready,’ we have a unique opportunity for cross promoting our hair
accessories with complementary segments of our business, such as hair
care appliances, and even with other adjacent beauty categories by
co-merchandising in stores and offering in-pack trial samples or coupons
for discounts with purchase.
“Our approach is to create a fun, engaging experience for the consumer,
making the product the hero of the proposition and exciting the female
consumer with the most trend-forward fabrications, colors and materials
at a compelling consumer value,” he added. “For the female consumer,
feeling confident and beautiful is a 360-degree experience, and
Remington® is committed to making hair accessories an important part of
that.”
As Remington® expands its global market position in women’s hair
accessories, Fiorenza said, “Remington® is excited to be able to offer
consumers and our retail partners a total hair care solution. We will
continue our focus on innovation that matters to the consumer and on
bringing exciting, fashion-forward items to this category at a value
price position, which has proven to be a successful formula for
Remington® and its retail partners worldwide.”
About Remington
Remington® is “How the World Gets Ready.” A global leader and
manufacturer of men’s and women’s grooming and styling products,
Remington® is an innovator of affordable hair care, electric
shavers, wet shavers, wet shave products and body groomers and trimmers,
and a subsidiary of Spectrum Brands Holdings. For more information about
Remington®, visit www.remingtonproducts.com.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc., a member of the Russell 2000
Index, is a global and diversified consumer products company and a
leading supplier of batteries, shaving and grooming products, personal
care products, small household appliances, specialty pet supplies, lawn
& garden and home pest control products, personal insect repellents and
portable lighting. Helping to meet the needs of consumers worldwide, the
Company offers a broad portfolio of market-leading, well-known and
widely trusted brands including Rayovac®, Remington®, Varta®, George
Foreman®, Black & Decker®, Toastmaster®, Farberware®, Tetra®,
Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, FURminator®, Littermaid®,
Spectracide®, Cutter®, Repel®, Hot Shot® and Black Flag®. Spectrum
Brands Holdings' products are sold by the world's top 25 retailers and
are available in more than one million stores in more than 120
countries. Spectrum Brands Holdings generated net sales of approximately
$3.2 billion in fiscal 2011. For more information, visit www.spectrumbrands.com.
Forward-Looking Statements
Certain matters discussed in this news release and other oral and
written statements by representatives of the Company regarding matters
such as expected sales, adjusted EBITDA, other measures of financial
performance, and the financial impact of the FURminator acquisition may
be forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These statements are subject
to a number of risks and uncertainties that could cause results to
differ materially from those anticipated as of the date of this release.
Actual results may differ materially as a result of (1) Spectrum Brands
Holdings' ability to manage and otherwise comply with its covenants with
respect to its significant outstanding indebtedness, (2) the inability
to integrate, and to realize synergies from, the combined businesses of
Spectrum Brands and its acquired companies, including FURminator,
Russell Hobbs and other acquisitions, (3) risks that changes and
developments in external competitive market factors, such as
introduction of new product features or technological developments,
development of new competitors or competitive brands or competitive
promotional activity or spending, (4) changes in consumer demand for the
various types of products Spectrum Brands Holdings offers, (5)
unfavorable developments in the global credit markets, (6) the impact of
overall economic conditions on consumer spending, (7) fluctuations in
commodities prices, the costs or availability of raw materials or terms
and conditions available from suppliers, (8) changes in the general
economic conditions in countries and regions where Spectrum Brands
Holdings does business, such as stock market prices, interest rates,
currency exchange rates, inflation and consumer spending, (9) Spectrum
Brands Holdings' ability to successfully implement manufacturing,
distribution and other cost efficiencies and to continue to benefit from
its cost-cutting initiatives, (10) Spectrum Brands Holdings' ability to
identify, develop and retain key employees, (11) unfavorable weather
conditions and various other risks and uncertainties, including those
discussed herein and those set forth in Spectrum Brands Holdings' and
Spectrum Brands' securities filings, including the most recently filed
Annual Report on Form 10-K for Spectrum Brands, Inc. or Quarterly
Reports on Form 10-Q. Spectrum Brands Holdings also cautions the reader
that its estimates of trends, market share, retail consumption of its
products and reasons for changes in such consumption are based solely on
limited data available to Spectrum Brands Holdings and management's
reasonable assumptions about market conditions, and consequently may be
inaccurate, or may not reflect significant segments of the retail market.
Spectrum Brands Holdings also cautions the reader that undue reliance
should not be placed on any forward-looking statements, which speak only
as of the date of this release. Spectrum Brands Holdings undertakes no
duty or responsibility to update any of these forward-looking statements
to reflect events or circumstances after the date of this report or to
reflect actual outcomes.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50420221&lang=en
Source: Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, Inc.
Investor/Media Contact:
Dave
Prichard, 608-278-6141
